The cryptocurrency market experienced significant volatility over the weekend, culminating in a sharp sell-off on Sunday evening, February 9, 2025.
Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies, saw notable declines driven by macroeconomic uncertainty, profit-taking by large holders, and bearish technical signals.Bitcoin dropped from above $97,000 to a weekend low of $95,000 before stabilizing at $96,970 on Monday morning.
This marked a 2% weekly decline.
Trading volume fell to $45 billion from $60 billion in January as reduced liquidity and cautious trading dominated the market.Ethereum faced steeper losses, dropping below $2,600 after losing nearly 9% last week.
By Monday morning, ETH traded at $2,643 with daily trading volume down to $22 billion from $30 billion a month ago.Crypto Markets Face Weekend Turmoil as Bitcoin and Ethereum Slide Amid Heavy Selling.
(Photo Internet reproduction)Sundays sell-off hit Ethereum particularly hard.
A whale transaction involving 8,139 ETH ($21.18 million) triggered a rapid 3.2% price drop within 30 minutes.
The Ethereum Foundation also moved 50,000 ETH ($131 million), raising concerns about further selling pressure.
These events followed a broader trend of profit-taking by large holders.Macroeconomic uncertainty added to the bearish sentiment.
Renewed tariff threats from former United States President Donald Trump rattled global markets and spilled into cryptocurrencies.
Traders increased short positions on both BTC and ETH in anticipation of further downside risk.Technical indicators reinforced this outlook.
Bitcoins RSI dropped to 45 while its MACD showed a bearish crossover, with key support at $90,000 and resistance near $100,000.
Ethereums RSI fell to an oversold level of 29, with analysts warning that a break below $2,359 could push prices toward $1,900.Despite the sell-off, some investors saw opportunities for accumulation.
CryptoQuant reported long-term holders added $883 million worth of ETH on February 7the largest single-day accumulation in over a year.
Bitcoin network activity also suggested growing interest from long-term investors.Crypto Markets Face Weekend Turmoil as Bitcoin and Ethereum Slide Amid Heavy SellingInstitutional flows into crypto ETFs reflected mixed sentiment.
Bitcoin ETFs saw early-week outflows of $140 million but recovered midweek with $340 million in inflows.
Ethereum ETFs attracted $420 million in net inflows during the same period, signaling continued institutional interest in ETH despite price struggles.Altcoins mirrored the broader market decline.
Solana (SOL), Cardano (ADA), and Ripple (XRP) posted losses between 4% and 10%, while Litecoin (LTC) gained over 5% following renewed interest after its recent halving event.The weekend underscored the fragility of current market conditions and the outsized impact of large transactions on prices.
Analysts advise traders to monitor key support levels and macroeconomic developments closely as the crypto market remains dynamic in 2025.